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Dick Armey Defends His $8 Million Deal to Leave FreedomWorks

Dick Armey Defends His $8 Million Deal to Leave FreedomWorks

Amy Sussman/Getty Images The New Yorker(WASHINGTON) — Former House majority leader Dick Armey says he took an $8 million consulting deal in return for leaving the conservative organization FreedomWorks because the group was “dishonest” and because he …

Morgan Stanley CEO Says Banking Industry Is ‘Overpaid’

Morgan Stanley CEO Says Banking Industry Is ‘Overpaid’

Scott Eells/Bloomberg via Getty Images(NEW YORK) — Morgan Stanley CEO James Gorman has folks in the banking sector buzzing with his comments that the industry is “still overpaid.””There’s way too much capacity and compensation is way too high,” Gorman…

Best Buy (BBY) Defends Estimated $32 Million Pay Package for New CEO

Best Buy (BBY) Defends Estimated $32 Million Pay Package for New CEO

KAREN BLEIER/AFP/Getty Images(NEW YORK) — Best Buy (BBY) is giving new CEO Hubert Joly a compensation package valued up to $32 million for three years, including a guarantee of more than $6 million even before he starts work if the deal falls apart.A …

Taxpayers Subsidize CEO Pay, Report Says

Taxpayers Subsidize CEO Pay, Report Says

Justin Sullivan/Getty Images(WASHINGTON) — The Institute for Policy Studies, a self-described “progressive multi-issue think tank,” analyzed the link between tax loopholes and excessive executive compensation and concluded that the loophol…

Women Get Short Straw for Pay on Capitol Hill

Women Get Short Straw for Pay on Capitol Hill

(File Photo) Chip Somodevilla/Getty Images(WASHINGTON) — Testifying on Capitol Hill as a woman can be tough. But being a woman working for the Republican leadership can also be tough — on your pocketbook.Men who work for House Republican leaders — a…

What to Expect If You’re Expecting a Raise

What to Expect If You’re Expecting a Raise

iStockphoto/Thinkstock(NEW YORK) — How much higher can those fortunate enough to have a job expect their salaries to rise in the next year? The answer is three percent, according to a study by the consulting firm, Hay Group.According to the consulting…

Shareholders Cut CEO Pay in Backlash

Shareholders Cut CEO Pay in Backlash

Adam Gault/Thinkstock(NEW YORK) — Amidst a climate of populist outrage and corporate missteps, shareholders are voting en mass to cut executive pay thanks to a new government rule called “say on pay.” The board of directors, who determine CEO pay, don…

Missouri Petitions to Raise Minimum Wage

Missouri Petitions to Raise Minimum Wage

iStockphoto/Thinkstock(NEW YORK) — What’s the national minimum wage? If you’re, say, one of three Republican candidates running in Missouri’s U.S. Senate primary, you might be hard-pressed to remember it (it’s $7.25).But if you’re one of about 173,000…

CEO Pay Now 380 Times Average Worker’s, Says AFL-CIO

CEO Pay Now 380 Times Average Worker’s, Says AFL-CIO

Adam Gault/Thinkstock(NEW YORK) — Just when you thought executive compensation couldn’t get much higher, the average CEO pay increased 14 percent to $12.9 million in 2011, 380 times that of the average worker, according to the AFL-CIO’s annual Executi…

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